Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
History
Frenzied Finance, Vol. 1: The Crime of Amalgamated
Lawson, Thomas William
Amalgamated Copper Co.; Gas companies -- Massachusetts -- Boston; Insurance -- United States; Speculation; Standard Oil Company
As time went on, this big enterprise was more and more in my thoughts,
and I tested it in every way I knew, going over in my mind and trying
out each successive step and link until I was certain the whole
structure was unassailable. Then it became my purpose in life to launch
the venture. The difficulties of the task were never for a moment
overlooked, for I well knew that much money would be required, but with
strong backing success was sure, and such a success was tremendously
worth attaining. Next to putting in force my financial invention which
would remedy the evils of the "System," this great copper project seemed
the thing--the dollar thing--best worth doing in all the world. It was
to execute this project that I allied myself with the "Standard Oil"
party, for with their money and backing I knew I could carry through my
plans on the lines I had so carefully mapped out.
The chief indictment my critics brought against me when my series of
articles appeared in _Everybody's Magazine_ was that I had turned
"State's evidence." Having been "in with" "Standard Oil" in their
robberies of the public, it was not until we disagreed and "split" that
I thought of taking the public into my confidence. The truth is, my
relation with "Standard Oil" was different from that any other man ever
had with that mysterious and reticent institution, and throughout the
copper crusade I insistently blurted out our plans and purposes through
every channel of publicity I could command. At no time was there the
slightest secrecy. From the very first day of the campaign I told the
story as I tell it here, and I told it from the housetops by newspaper
interviews and advertisements, market letters and circulars frankly and
freely explaining what I was about. The absolute truth of the foregoing
is easily proved through existing records, for the press of the country
contains an almost continuous story, beginning in 1896 and running up to
date, wherein I have openly and fairly told what I knew about "Coppers"
and detailed the progress of our plans. Time and again, during this
period, financial writers commented on my frankness, quoting brokers
and bankers to the effect that "Lawson will surely have his head dropped
into the 'Standard Oil' basket if he keeps telling people all he knows
in this fashion." For the complete realization of my project the
public's interest was essential. The creation of the vast business
structure that I had designed required the participation of the great
mass of the people, and I was determined that no subservience to the
selfish ends of my associates should swerve me from my plan. I saw the
enterprise whole; saw that there was great profit for all concerned, for
"Standard Oil," for myself, and for the public; but if the public were
not taken care of or were discouraged from participation, then my
institution would surely be only another combination of capitalists and
I should fail in my ambition.
Public-domain text, read in full here on John Shaqi.
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